The UMW Group’s automotive sales surged by 41% month-on-month in August 2022 boosted by improved sales from UMW Toyota Motor (UMWT) and UMW’s associate company, Perodua. In a statement, UMW said it delivered 35,130 units in August 2022 compared with 24,983 units registered in July 2022 as it continues to fulfil its encouraging outstanding order book. (TheStar)

HSS Engineers Bhd's (HEB) unit HSS Integrated Sdn Bhd (HSSI) has been appointed an engineering consultant by the Kedah state government to provide engineering consultancy and supervisions services. It said in a filing with Bursa Malaysia the services contract was valued at RM5.21mil and would run for a period of 46 months. (TheStar)

Cosmos Technology International Bhd, which is scheduled to be listed on Bursa Malaysia's ACE Market on Oct 6 at 35 sen a share, said on Wednesday (Sept 14) that it plans to raise about RM22.44 million from its initial public offering (IPO), which involves a public issue of 64.13 million new shares. (TheEdge)

Pos Malaysia Bhd has inked a memorandum of understanding (MOU) with online marketplace Ejazmine Sdn Bhd to explore collaboration in logistics and courier services. In a bourse filing on Wednesday (Sept 14), Pos Malaysia said that under the deal, it will be appointed as the preferred logistics partner. (TheEdge)

Top Glove Corp Bhd, which will release its fourth-quarter and full-year financial results next Tuesday (Sept 20), said its nitrile glove sales volume continued to show an increasing trend, driven by sales to the US, Western Europe, Asia and Latin America. (TheEdge)

Maxis Bhd is working closely with its 5G Alliance partners to create and commercialise 5G use cases and Internet of Things (IoT) solutions across industries in Malaysia and Asia-Pacific. The company said that since its launch in June 2022, Maxis 5G Alliance has gained momentum, adding seven new partners, namely Gamuda Land, Garuda Robotics, ITXOTIC, LinkUp Smart Solutions, Nokia, NVIDIA and ZTE, bringing the total to 23 members. (NST)

KIP Real Estate Investment Trust (KIP REIT) foresees effects of high inflationary pressures as rising costs hurt its tenants' profit margins, according to its executive director Valerie Ong. (TheEdge)

Global economic vagaries and petrochemical prices are expected to slow down BP Plastics Holding Bhd's financial year 2022 (FY22) to FY24 earning per share (EPS) growth, said CGS-CIMB Research. The research house has projected that the spike in petrochemical prices in the first half of 2022 (1H22) would also pull down BP Plastics' record net profit in FY21. (NST)

Kenanga Research has upgraded Velesto Energy Bhd to “outperform" at RM11.5 sen with a higher target price (TP) of 16 sen (from eight sen) and said it sees the regional and local jack-up rig market improving, with marketed utilisation reaching a high of 91% in Southeast Asia and 100% in Malaysia. In a note on Wednesday (Sept 14), the research house said it believes this offers further upside to Velesto’s current rig utilisation and charter rates. (TheEdge)

Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating on Focus Point Holdings Bhd at 76 sen with a higher target price (TP) of RM1.51 (from RM1.39) and said it was upbeat with the group’s solid results and reckons that the momentum will continue with the full reopening under endemicity. (TheEdge)

RHB Retail Research said Theta Edge Bhd may initiate a positive rebound above its sideways consolidation phase of 91 sen as it bounced off the 21-day average line while attempting to hit the resistance level on Tuesday (Sept 13), with improved trading volume. In a trading stocks note on Wednesday, the research house said that if it breaks above that level, the bulls may drive the counter higher towards the YTD high of RM1.01, followed by RM1.11, which was October 2021’s low. (TheEdge)

RHB Retail Research said Samaiden Group Bhd is set to propel upwards as it bounced off the 21-day average line and pushed past the immediate resistance-turned-support level of 72 sen on Tuesday (Sept 13), forming a “higher high” bullish structure on surging volume. In a trading stocks note on Wednesday, the research house said that if the breakout is sustained, the bullish momentum may propel further towards the 76 sen point (April 6’s high), followed by 81.5 sen, i.e. the high of Feb 15. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 14 Sep 2022

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